Liu Zhibiao: Deepen Reforms to Break Through Blockages in the Dual Cycle

Release time:2020-09-29Author: Liu Zhibiao

The key to the formation of the new development pattern, with the domestic cycle as the mainstay and the domestic and foreign cycles supporting each other, lies in the circulation itself, not inside or outside. As long as the circulation works, the national economy will go forward in a balanced and stable way. As for whether the resource elements and output are produced in the domestic market or in the international one, it is the enterprises’ independent choices according to the market principle. Getting through the “Conception and Governor vessels” of China’s economic cycle directly relates to the establishment of the new development pattern. From the practical experience, the main point is to open up four blocking points, which are supply, demand, mechanism and market integration.In terms of supply, the breakthrough is to enhance the technological and innovative ability. The key is to improve the ecology of scientific innovation, and stimulate the vitality of creation. As for demand, we should regard the increase of productivity as the main point. To talk about mechanism, it’s of great necessity to adhere to the main line of supply-side structural reform. In the aspect of market integration, enlarging the opening up inwards is the breakthrough. It’s necessary to open up to both the outside world and the inside market, and they should link up with each other and keep the balance.